Teekay Offshore Part Rating Lowered to Neutral at Global Hunter Securities (TOO)
Teekay Offshore Part (NYSE:TOO) was downgraded by Global Hunter Securities from a “buy” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
Shares of Teekay Offshore Part (NYSE:TOO) opened at 32.73 on Monday. Teekay Offshore Part has a 52-week low of $26.67 and a 52-week high of $36.09. The stock has a 50-day moving average of $31.95 and a 200-day moving average of $32.67. The company has a market cap of $2.740 billion and a P/E ratio of 37.72.
Teekay Offshore Part (NYSE:TOO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.22. Analysts expect that Teekay Offshore Part will post $0.94 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Teekay Offshore Part from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, December 23rd. Separately, analysts at Raymond James raised their price target on shares of Teekay Offshore Part from $33.00 to $36.00 in a research note to investors on Monday, November 11th. They now have an “outperform” rating on the stock. Finally, analysts at Merrill Lynch downgraded shares of Teekay Offshore Part to a “neutral” rating in a research note to investors on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Teekay Offshore Part presently has a consensus rating of “Hold” and a consensus target price of $33.90.
Teekay Offshore Partners L.P. (NYSE:TOO) is an international provider of marine transportation and storage services to the offshore oil industry.
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